Does that include a balanced budget amendment?
Walker: I think with regard to a balanced budget amendment that we have to keep in mind several things. First, all but one state has some requirements with regard to a balanced budget. Then, however, depending up on how you define a balanced budget, it may or may not be meaningful. For example, California has a requirement for the governor to submit a balanced budget to the Legislature. However, there is no [ultimate] requirement for the budget to be balanced, and as a result they just borrow. That is what the federal government does. Ironically, the only state that doesn’t have a balanced budget amendment – that I know of – is Vermont, and yet it has significant reserves. It not only balances budgets, but it has significant reserves. So, the first issue is it all depends upon how you define a balanced budget. Second, keep in mind that I work for the legislative branch, and if you had a balanced budget amendment – without adequate release valves or provisions to account for war or sign
